Binance co-founder Changpeng "CZ" Zhao backed crypto license passporting across ASEAN, arguing that a firm regulated in one member state should enter others through a simplified approval rather than a fresh application. He spoke Tuesday at the ASEAN Tech Summit Manila 2026, supporting a proposal from FinTech Alliance PH founding chair Lito Villanueva. No regulator or ASEAN body has announced a formal passporting proposal or target date.
Binance co-founder Changpeng "CZ" Zhao backed crypto license passporting across ASEAN, arguing that firms regulated in one market should be able to enter others through a simplified approval process rather than applying from scratch.
He made the case Tuesday during the "One ASEAN, One Digital Economy" fireside chat at the ASEAN Tech Summit Manila 2026, backing an idea that FinTech Alliance PH founding chair Lito Villanueva raised for regulatory passporting or license portability. Zhao said regulators could still review applicants but should not require them to complete another full licensing application from scratch.
A regional licensing framework could reduce compliance costs, encourage competition and make it easier for crypto and stablecoin services to operate across ASEAN’s fragmented regulatory markets. Member states regulate digital assets separately, creating multiple approval processes for companies seeking a regional presence.
Zhao said of cross-border coordination, according to Cointelegraph: "I think that’s mostly a political problem", adding that the technology was simple. He said allowing more licensed platforms to compete could improve services and lower costs for consumers.
ASEAN already runs passporting outside crypto
The bloc does not currently have a bloc-wide passport for crypto companies, but regional regulators have created streamlined cross-border arrangements elsewhere in finance. The ASEAN Capital Markets Forum operates the Collective Investment Schemes Framework, which lets a fund authorized in its home jurisdiction be offered in participating host jurisdictions through a streamlined authorization process.
That framework was first operationalized in Malaysia, Singapore and Thailand in 2014, while the Philippines joined in 2021, according to the ACMF.
The forum also introduced the ACMF Pass under its Professional Mobility Framework, which lets eligible investment advisers licensed in one participating jurisdiction receive fast-track registration to provide advisory services in another without obtaining another license.
However, these programs are narrower than the passporting idea Villanueva raised and Zhao supported, and they remain subject to host-market requirements.
Europe’s MiCA is the closest crypto comparison
Under the European Union’s Markets in Crypto-Assets Regulation, an authorized crypto-asset service provider can use passporting rights to provide services across EU member states after notifying its home regulator of the countries and services involved. Binance itself missed the full MiCA licensing deadline and restricted some European services, crypto.news reported.
Zhao said differences in national policies and regulatory approaches make alignment harder than building common technical rails. Still, he argued that firms already licensed in one market should face a lighter application process when entering another ASEAN jurisdiction.
For now the idea carries no official status: no regulator or ASEAN body has announced a formal crypto passporting proposal, consultation or target date.
Sources: Cointelegraph, crypto.news
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